Arizona State Retirement System Purchases New Holdings in Everus Construction Group, Inc. (NYSE:ECG)

Arizona State Retirement System purchased a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,890 shares of the company's stock, valued at approximately $515,000.

A number of other institutional investors also recently made changes to their positions in the stock. Banque Pictet & Cie SA acquired a new position in shares of Everus Construction Group in the first quarter worth $289,000. Washington Trust Bank acquired a new position in shares of Everus Construction Group in the first quarter worth $935,000. Catalyst Capital Advisors LLC raised its holdings in shares of Everus Construction Group by 2.0% in the first quarter. Catalyst Capital Advisors LLC now owns 22,692 shares of the company's stock worth $842,000 after acquiring an additional 440 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Everus Construction Group by 40.7% in the first quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock worth $12,891,000 after acquiring an additional 100,551 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Everus Construction Group by 46.7% in the first quarter. Teacher Retirement System of Texas now owns 110,256 shares of the company's stock valued at $4,089,000 after purchasing an additional 35,095 shares during the period.

Analysts Set New Price Targets

Several research firms recently commented on ECG. Stifel Nicolaus upped their target price on Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Oppenheimer upped their target price on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. DA Davidson upped their target price on Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered Everus Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Everus Construction Group has an average rating of "Hold" and a consensus price target of $73.67.

Everus Construction Group Stock Up 6.4%

NYSE:ECG traded up $4.43 on Friday, hitting $73.43. 701,828 shares of the stock were exchanged, compared to its average volume of 428,869. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.78. Everus Construction Group, Inc. has a fifty-two week low of $31.38 and a fifty-two week high of $77.93. The stock has a fifty day moving average of $62.72 and a 200-day moving average of $53.76.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.29. Everus Construction Group had a return on equity of 33.27% and a net margin of 4.98%. The business had revenue of $826.63 million during the quarter, compared to analyst estimates of $676.35 million. The company's revenue for the quarter was up 32.1% on a year-over-year basis. As a group, equities analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

Everus Construction Group Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers.